Aricom

Infobox Company
company_name = Aricom plc
company_
company_type = Public (lse|ORE)
foundation = 2003
location = London, England
key_people = Pavel Maslovskiy (Chairman of the board), Jay Hambro (CEO)
industry = Mining, metallurgy
products = Iron ore, ilmenite
revenue = US $4.938 million (2007)cite web |url=http://www.aricom.plc.uk/aricom/uploads/press/ARICOMARFINAL.pdf |title=Annual Report 2007 |accessdate=2008-04-20 |publisher=Aricom]
net_income = profit US $111,000 (2007)
assets = US $1.164 billion (2007)
num_employees= 230 (2007)
homepage = [http://www.aricom.plc.uk/ www.aricom.plc.uk]
intl = yes

Aricom PLC ( _ru. Ариком, lse|ORE) is a London-based iron ore mining company with operations in Russia. Its shares are listed on the London Stock Exchange and it is a member of the FTSE 250.

The company has been one of the fastest growing iron ore producers in Russia with assets spread throughout the far eastern provinces. It is the first Eastern Russian iron ore mining company to have a market capitalization of over US$1 billion.

History

The company was founded in 2003 when it was listed on the Alternative Investment Market and acquired a 74% stake in "Olekminsky Rudnik", a business which owned the licience to mine the "Kuranakh" deposit. [http://www.aricom.plc.uk/aricom/corporateprofile/history/ Aricom History] ] In 2007 the Company obtained a listing on the main market of the London Stock Exchange. In May 2008 it announced that it was seeking $1bn to expand its activities. [ [http://www.reuters.com/article/ousiv/idUSL2562521020080526 Aricom to raise $1 bln to expand in Russia] Reuters, 2008]

Operations

The Company’s operations are based in the Amur Region and Jewish Autonomous Region of Eastern Russia. The region offers a wealth of mineral deposits and provides a strong infrastructure for the company’s main assets. The mines are all within proximity to the Trans-Siberian Railway and BAM Railway and the company’s policy of using Russian professionals wherever possible means that there is a large supply of local labour and local expertise.

The company operates “open pit” mines which are essentially well planned craters dug into the ground. To excavate the ore, grids of holes are drilled into it and dynamite is then inserted into the holes. This process in known as “blasting” and the blasted ore is then removed from the pit in ore trucks.

Board of Directors

*Pavel Maslovsky
*Peter Hambro
*Jay Hambro
*Sir Malcolm Field
*Sir Roderic Lyne
*Brian Egan
*Martin Smith

References

External links

* [http://www.aricom.plc.uk/ Aricom website]